Is going over the cliff the most likely option? Probably

Earlier this morning, we wrote that -- after last night's House GOP failure to pass "Plan B" -- the White House and Congress essentially have three remaining options:

1. The White House and the Senate (both Majority Leader Harry Reid and Minority Leader Mitch McConnell) work on a quick fix -- like raising rates on income above $250,000 -- that they can force through the House.

2. President Obama still tries to strike a grand bargain, now holding more leverage.

For what it’s worth, I am in the camp that says they go over the cliff. I don’t see how Boehner puts a bill on the floor that raises rate on anyone. The party would explode, which might be what POTUS has in mind.

In Boehner’s mind, I think it’s better to come back after Jan. 1 and vote to cut them back to where they were, with the top earners going up. Inertia is a driving force in this scenario.